On your own
Co-own with mates or siblings with Dynamic Ownership
Buy a property with up to five others and track your individual contributions through a home agreement. Together, you can boost your buying budget and buy sooner.
Suitable for buyers & movers
Buy a home with up to 5 other people
Each buyer builds their own equity
How does it work?
Dynamic Ownership is a joint mortgage that allows you and up to five other buyers to purchase a property together. It can be a good solution for people wanting to buy with friends or siblings.
Similar to a tenants in common mortgage, each owner’s equity is separate. However with this scheme, all owners can dynamically track their deposit or repayment contributions over time. This ensures that everything is fair and clear when it comes to selling the property.
Why Tembo?
We help buyers, movers and homeowners discover how they could boost their affordability in 3 simple steps. It’s why we’re the UK’s Best Mortgage Broker.
Things to consider
All mortgages have risks and benefits. Here are some key things you should know before applying for a Dynamic Ownership mortgage.
What are the benefits?
Get on the ladder sooner
On average it takes almost 10 years to save up for a deposit. By pooling your savings together with friends or siblings, you can put down a larger deposit and get on the ladder quicker.
Increase your buying budget
With more people on the mortgage application, your total income will be higher. This will likely mean lenders will be more willing to let you borrow more for a mortgage, boosting your buying budget.
You have control over your share
As each co-owner has individual equity in the home, they have full control over their portion. They can choose to sell up, or pass it to others in their will, without forcing the other owner(s) to do the same - as long as the remaining owners can afford the mortgage without you.
Build up individual equity, instead of renting
If you and your friends or siblings are currently renting, buying together can allow you to build up equity in a home you co- own. So down the line, you’ll have built up your own property wealth, instead of paying your landlord’s mortgage.
Both first time buyers and home movers are eligible
Unlike some buying schemes, Dynamic Ownership can be used by both first time and second time buyers.
Risks and considerations
Everyone on the mortgage is liable for debt
While not every co-owner needs to contribute to the monthly repayments, all applicants are jointly liable for the mortgage. So if you default, all co-owners will be legally responsible for the payments.
Think carefully about who you buy with
Buying a home is a huge responsibility, and so it’s important that you trust the people you’re buying with. You’ll become financially linked, meaning any changes to their credit report will impact you.
Each owner will go through affordability checks
All applicants will go through a mortgage affordability assessment to ensure they can afford the mortgage. This includes providing proof of income, identification and a credit check.
Applicants’ ages impact their eligibility
Applicants’ maximum age at the end of the mortgage has to be typically between 75-85 years old. This means if your co- owners are over the age of 60, monthly repayments can become unaffordable.
Got questions? We've got answers
See all FAQsFrequently asked questions
The steps in your journey
Get into your very own home in 4 simple steps
Make a Tembo plan
We’ll check your eligibility for Dynamic Ownership and other buying schemes, then you’ll get a personalised mortgage recommendation including interest rates and repayments - all in under 10- minutes.
Talk to an expert
Book a call with our mortgage experts to complete the qualification process. We’ll cover any questions you might have about Dynamic Ownership and any other schemes.
Find a property
Now it’s time to find a home! Your Tembo advisor will be on hand to support you during the house hunt.
Make home happen
Once you’ve found a property, we’ll prepare & submit your mortgage application. We’ll liaise with the developer or seller and your solicitors to ensure a smooth purchase.
Similar schemes
Explore our other buying schemes to see alternative ways to get on the ladder
On your own
Deposit Unlock
Purchase a new build home from a participating home builder with just a 5% deposit.
See detailsWith a guarantor
Deposit Loan
Boost your deposit with help from family or friends in return for a share of your home
See detailsPart buy part rent
Private Shared Ownership
Buy a share of a home, then pay rent on the rest. Over time, buy more of the home till you have full ownership
See detailsLearn more
Confused about mortgages? Read our guides for expert tips on saving, buying and the market.
Other mortgage schemes
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Increase your affordability
Without a guarantor